Shinhan Asset Management signed a four-party non-binding MOU with the Solana Foundation, Etherfuse and Orca to run a proof-of-concept validating the full issuance and distribution process for a won-denominated ultra-short-term bond fund structured like BlackRock's BUIDL. The review will cover KYC, AML, blockchain operations, security audits, Foreign Exchange Transactions Act compliance and on-chain liquidity design for offshore institutional investors. Separately, Kakao announced a governance overhaul with a spin-off creating Kakao AI for its Talk and AI businesses and Kakao X as the surviving investment company, with a 0.36/0.64 share split ratio, relisting planned for January 27 and 2030 revenue targets exceeding 6 trillion won and 10 trillion won respectively. The tokenized real-world asset market excluding stablecoins reached about $36.27 billion, up 2,200% since 2020, with projections for $16-30 trillion by 2030.